Institute for Wealth Management LLC. Sells 126 Shares of Eli Lilly and Company (NYSE:LLY)

Institute for Wealth Management LLC. cut its holdings in Eli Lilly and Company (NYSE:LLY) by 1.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,639 shares of the company’s stock after selling 126 shares during the period. Institute for Wealth Management LLC.’s holdings in Eli Lilly and Company were worth $3,870,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Fairfield Bush & CO. purchased a new stake in shares of Eli Lilly and Company during the first quarter worth $107,000. Roundview Capital LLC grew its stake in shares of Eli Lilly and Company by 2.6% during the first quarter. Roundview Capital LLC now owns 2,056 shares of the company’s stock valued at $589,000 after buying an additional 53 shares during the last quarter. Merit Financial Group LLC bought a new position in shares of Eli Lilly and Company during the first quarter valued at about $210,000. NewEdge Advisors LLC grew its stake in shares of Eli Lilly and Company by 9.9% during the first quarter. NewEdge Advisors LLC now owns 53,052 shares of the company’s stock valued at $15,193,000 after buying an additional 4,774 shares during the last quarter. Finally, Barometer Capital Management Inc. bought a new stake in shares of Eli Lilly and Company in the first quarter worth about $561,000. 82.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $815.00 target price on shares of Eli Lilly and Company in a research note on Monday. Bank of America raised their target price on Eli Lilly and Company from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Wells Fargo & Company raised their target price on Eli Lilly and Company from $700.00 to $825.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. JPMorgan Chase & Co. lifted their price objective on Eli Lilly and Company from $775.00 to $850.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Finally, Morgan Stanley increased their target price on Eli Lilly and Company from $805.00 to $950.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $728.05.

Eli Lilly and Company Trading Down 2.6 %

LLY stock traded down $19.25 during trading on Friday, hitting $726.70. The company had a trading volume of 2,482,421 shares, compared to its average volume of 3,058,911. The firm has a market capitalization of $690.48 billion, a P/E ratio of 125.67, a PEG ratio of 1.64 and a beta of 0.34. Eli Lilly and Company has a 52-week low of $369.76 and a 52-week high of $800.78. The company has a 50 day simple moving average of $764.24 and a 200-day simple moving average of $658.28. The company has a quick ratio of 0.73, a current ratio of 0.94 and a debt-to-equity ratio of 1.69.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Tuesday, February 6th. The company reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.19. Eli Lilly and Company had a net margin of 15.36% and a return on equity of 51.22%. The company had revenue of $9.35 billion for the quarter, compared to analysts’ expectations of $8.95 billion. During the same period in the prior year, the business earned $2.09 EPS. The firm’s quarterly revenue was up 28.1% on a year-over-year basis. As a group, research analysts forecast that Eli Lilly and Company will post 12.52 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 78,573 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $648.07, for a total value of $50,920,804.11. Following the sale, the insider now directly owns 99,333,810 shares in the company, valued at approximately $64,375,262,246.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Company Profile

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.